Skip to main content
3:00 pm
>> thank you for joining us, everyone. next is studio b. >> and president obama will take the stage in milwaukee, wisconsin, and on this labor day with the unemployment rate at 9.6 percent the president expected to speak about the nation's dire job situation and the overall economy. this is a live look at the stage just ahead of the president's speech. according to the white house the president will be calling for "major investments to repair our infrastructure," at $50 billion to begin with. here is how, reportedly, it breaks down. the proposal will include rebuilding 150,000 miles of roads in the united states,
3:01 pm
4,000 lines of railway lines and 150 miles of new runways at the airports. the administration claims this plan will create thousands of jobs and kick start the nation's economy but republicans say they are still skeptical whether it would work and whether it can get passed before the november elections and now the latest. how do we expect the president to sell this proposal to the american people? >>reporter: it will be campaign-style folks looking for, perhaps, people who could be unhappy with the economy right now and frankly about everyone in the crowd, this labor intensive crowd, if you will, is pro the president, very strongly supportive of the president. so he will talk about what he is trying to do to help the middle class and he realizes it is important to get more jobs going in the economy and he will sell
3:02 pm
that infrastructure plan. there is a line in the speech that suggests he will say it's going to start creating jobs now. that contradicts something the senior officials said this morning to reporters on a call when they said it would not create jobs until some time next year so it will be interesting to see if the president talks about that line in the speech to create more realistic expectations in temperatures of job creation from this one proposal. obviously he is doing other things to create jobs. but in terms of infrastructure, his aides say it will not start until next year, if it passed congress. >> and the secretary of labor make as few remarks before the president takes the stage. mean, it sounds like leading republicans are not terribly impressed. what more are they saying? >>reporter: they are absolutely shooting down this proposal talking about more wasteful stimulus spending.
3:03 pm
they are attaching the stimulus label to this knowing there is not a lot of appear ties in america for more spending of this nature. and how republican whip is saying about it -- well, would have the quote. but he talks about blinding throwing darts at the bull and hoping for a bull's eye is not economic leadership. there is a better way. forgive the technology breakdown. >> no problem, mike. with the president in wisconsin. they lost 155,000 jobs there. it really hit the state hard. mike, thank you very much. with us on the set to talk about this is personal finance expert jordan goodman, the author of "fast profits in hard times." we could use a few of those. >>guest: yes. >> $50 billion in government structure for infrastructure,
3:04 pm
building of roads and airways and airports. is that how the president sold the first stimulus package which according to the polls is wildly unpopular in many say a waste of taxpayer money? >>guest: $800 billion at the time. remember "shovel ready," some projects were done but overall it did not cause a huge economic boom or create jobs even in the chance that it is passed between now and a month before the elections start, it would not create jobs at all until next year. >> is it true that sustainable jobs and growth is driven by the private sector. this is an example and we saw this with the stimulus, you finish building the bridge or laying the tarmac, those people are unemployed again. >>guest: like the census workers. they get laid off. >> then you have to have a third, fourth and fifth stimulus
3:05 pm
bill. >>guest: yes, we had one stimulus after another, including "cash for clunkers" that helped the car market for a month, and the home buyer tax credit that expired in april. and the housing market surged and now it has plunged. so they are doing one little stimulus after another but this is in the fundamentally going to change the situation. >> on wednesday, the president is going to give a part two of his brand new proposals to cure the economy and this is going to be $100 billion proposal to increase and make permanent the research and development tax credits for businesses. >> it could be good. right now companies have huge amounts of money. there are $2 trillion in cash right now. they have the money they need to do research and development but they do not have the confidence to invest because the environment is unclear. so, it is good to have r&d credit but do not expect it creating lots of jobs. >> and he wants to pay for it by
3:06 pm
offsetting tax increases. would that hurt business and you neutralize the positive imability of your original plan? >>guest: you pick winners and losers. r&d goes to technology or pharmaceutical company but they want the money from the oil and gas industry which is already hurting with thousands laid off in the gulf because of the moratorium, and we have huge dependents on foreign oil, 70 percent dependent on foreign oil and if you put more taxes on the oil and gas industry you make us more dependent. >> oil is gas is easy because they make a lot of money but they provide a lot of jobs. and another victim of the closing of tax loopholes. >>guest: they have choices. they can move to mexico or the philippines or wherever so you can say you will collect the
3:07 pm
taxes but companies have a lot of flexibility in the oil area, for example. i hear a lot of oil platforms will move to brazil because they have the moratorium here. so the companies can move around. you did not get the revenue just by then passing a law. >> and 70 percent of jobs in america are provided by small business. so right now there is pending in the u.s. senate the small business bill and it would provide among other things, tax breaks for small businesses and make loans more available for the small businesses. good idea? >>guest: good idea. the loans is where the action is. a lot of small businesses are credit worthy but they could not get loans with the banks being so tight. the tax credits are nice but if you arrest small business person you do not hire someone because you get a tax credit but because you need their services. the loans is major because a lot of small businesses should be able to get lending and they are not able to. >> the last time we had
3:08 pm
unemployment at basically this level, 1981 and the 1982 recession congress responded by lowering the tax rates and that triggered growth not only in g.d.p. but jobs and revenue, as well. so given that comparable history, would it be unwise to allow any of the bush tax cuts to expire? >>guest: i think so. politically, it's difficult. that is the major issue this coming midterm election but if nothing changes, which is most likely, as of january 1, capital gains goes from 15 percent to 20 percent and dividends from 15 percent to up to 40 percent and we talked about how people are uncertain by the situation and that is a main uncertainty, the big tax cut coming and how people will handle it. the result is they are holding on to the cash and investors are concerned and small businesses are not hiring. >> republicans love to hammer the president over this, "you
3:09 pm
promised unemployment would never be over 8 percent if we passed the first stimulus and that failed." and then going of the summer the white house was calling this a summer of recovery adding half a million and just the opposite happened, half a million new unemployment claims m -- were filed. did he overpromise? >>guest: he is coming to the midterm elections and does not want to lose a huge amount of votes here and he has to make it look better than it is and with we have had bad unemployment numbers. we got 67,000 new jobs in the private sector but not in the state and local sector. but the mortgage market, are unbelievably low at 4.2 percent so it is time to refinance and use the mortgage acceleration system where if you do it right they can pay off in five years, a website you can find out about
3:10 pm
that, and that can help a lot of people take advantage of the current circumstance. >> quick question, the president said "the economy is expanding, and it is the opposite, isn't it? >>guest: at a slower pace. a deacceleration of growth, it was 1.6 percent last quarter and last it was 5.5 percent so it is expanding at a slower and slower pace and people are worried about a double dip and that could happen because employers are cautious about hiring. >> and a double dip would be two consecutive quarters of negative g.d.p. and that would be the onsets of another recession. >> officially. we are not there now. officially the latest growth was 1.6 percent but we are deaccelerating and i am concerned about the tax cuts pushing us over the edge. >> $2 trillion in corporate money is sitting on the side lines. and profits have been strong.
3:11 pm
>>guest: very strong. but they are doing mergers and takeovers, and you saw h.p. take over another, and there are lots of mergers because it is easier to my the companies. but that is a sign on the corporate side. on the individual side, there are $6 trillion in cash. people are scared. >> sit tight. here is the president of the united states with sleeves rolled up because he has his work cut out for him. you can see it is a friendly crowd in milwaukee, wisconsin. they unemployment exceeds 15 percent and for african-americans it is along the lines of 25 percent and nationwide it is 18.6 percent and rising. so the president has picked a venue here where jobs are
3:12 pm
critical. and he is going to be laying out several ideas. let's listen. >> it is good to be here. i'm almost home. i just hop on to 94 and i'm hope. take it all the way to the south side. it is good to be here on such a beautiful day. happy labor day, everybody! i want to say "thank you," to milwaukee area labor council and all of my brothers and sisters in the afl-cio for eninviting me -- inviting me to spend this day with you.
3:13 pm
a day that belongs to the working men and women of america. i want to acknowledge your outstanding national presence. a man who knows that a strong economy needs a strong labor movement. thank you to the president of the wisconsin afl-cio, dave newbie. our host, labor counsel secretary treasurer, sheila cochran. and i urge her, first thing tomorrow, happy birthday, sheila. i'm proud to be here with our
3:14 pm
secretary of labor, a daughter of union members, hilda solis and our secretary of transportation, ray lahood is in the house. and i want everyone to give it up for people who are at the forefront of every fight for wisconsin's working men and women, senator kohl, and congress woman moore. your outstanding mayor and, i believe, soon-to-be outstanding governor, who is in the house. and i know your other great senator feingold was here earlier standing with you and
3:15 pm
your families like he always has and now he is in his hometown to participate in their labor day parade. it is good to be back. now, of course, this is not my first time at labor fest. some of you will remember i stood here with you two years ago. when i was still a candidate for this office. and during that campaign we talked about how for years the value of hard work and responsibility that had built this country had been given short shrift and how it was slowly hollowing out our middle-class. everyone has a chair, go ahead and sit down, because everyone is hollering, relax. i am talks -- talk for a while.
3:16 pm
everyone, take a seat. got a lot of hard working people here. you deserve to hit down. you have been on your feet all year working hard. about two years ago, we talked about some on wall street who were taking reckless risk and cutting corners to turn huge profits and working americans were fighting harder and harder to stay afloat. we talked about how the decks all too often were stacked in favor of special interests and against the interests of working americans. and what we knew even then was that these years would be some of the most difficult in our history. and then two weeks later, two weeks after i spoke here, the bottom fell out of the economy. and middle-class families only
3:17 pm
found themselves swept up in the worst recession of our lifetime. the problems facing working families, they are nothing new. but they are more serious than ever. and that makes our cause more urgent than ever. for generations it was the great american working class, the great american middle-class, that made our economy the envy of the world. it's got to be that way again. (applause) milwaukee, with folks like you that built this city. it was folks like you who built the state and who forged the middle class all across the nation. it was working men who made the 20th century the american century. the labor movement that helped secure so much of what we take
3:18 pm
for granted today. the 40 hour work week. the minimum wage. family leave. health insurance. social security. medicare. retirement plans. the cornerstone of the middle class security all bear the union label. and it was that greatest generation that built america into the greatest force of prosperity and opportunity and freedom that the world has ever known. americans like my grandfather who went off to war just boys and then returned, home, as men. and they traded in one uniform and set of responsibilities for another. americans like my grandmother
3:19 pm
who rolled up her sleeves and worked in a factory on the home front. when the war was over, she studied under the g.i. bill and they bought a home under the f.h.a. and they raised families supported by good jobs that paid good wages with good benefits. it was threw my grandparents' experience i was brought up to believe that anything is possible in america. but the milwaukee people, they also knew the feeling when an opportunity is pulled out from under you. now, they grew up during the depression so they tell me about seeing their fathers and uncles losing jobs. how it wasn't just the loss of a paycheck that hurt so bad. it was the blow to their dignity. their sense of self worth.
3:20 pm
i bet a lot of us have seen people who have been changed after a long bout of unemployment. that can wear you done even if you have a strong spirit if you are out of work for a long time it can wear you down. my grandparents taught me early on, a job is about more than just a paycheck. the paycheck is point. but a job is about waking up every day with a sense of purpose and going to bed knowing you handled your responsibilities. it's about meeting your responsibilities to yourself and to your family and to your community. i carry that lesson with me all those years ago when i got my start fighting for men and women on the south side of chicago when the steel plant shut down and i carried that through with
3:21 pm
me as a state senator and u.s. senator and i carry that lesson with me today. and i know, i know that there are folks right here in this audience, folks right here in milwaukee and all across america who are going through these kinds of struggles. with eight million americans lost their jobs in this recession. and even though we have had eight straight months of private sector job growth, the new jobs have not been coming fast enough. now, here's the honest truth: there's no silver bullet. there's no quick fix to these problems. i knew when i was running for office and i certainly knew when i was sworn in, i knew it would
3:22 pm
take time to reverse the damage of a decade worth of policies that saw two few people being able to climb into the middle class, too many people falling behind. we all knew this. we all knew that it would take more time than any of us want to dig ourselves out of this whole created by this economic crisis. but on this labor day, there are two things i want you to know: number one, i am going to keep fighting every single day every single hour, every single minute, to turn this economy around and put people back to work and renew the american dream. not just for your family. not just for all of our families. but for future generations. that i can guarantee.
3:23 pm
number two, i believe this with every fiber of my being. america cannot have a strong growing economy without a strong growing middle last and a chance for everybody, no matter how humble their beginning, to join that middle class, a middle class build on the idea if you work hard, if you live up to your responsibilities, you can get ahead. you can enjoy some basic guarantees in life. a good job to pay the good wage. health care that will be there when you get sick.
3:24 pm
a secure retirement even if you're not rich. an education that will give your children a better life than we have. these are simple ideas, these are american ideas. these are union ideas. that's what we're fighting for. i was saying about this last week on the day i announced the end of our combat mission in iraq and i spent some time as i often do with our soldiers and our veterans. this new generation of troops coming home from iraq, they have earned their place alongside the greatest generation.
3:25 pm
just like the greatest generation, they have the skills, they have the training, they have the drive to move america's economy forward. we have been investing in new care and a new opportunities and new commitment to our veterans because we have to serve them the way they served us. but milwaukee, they are coming home to an economy hit by a recession deeper than anything we've seen since the 1930's. so the question is, how do we create the same kind of middle class opportunities for this generation as my grandparents' generation came home to. how do we build our economy on that same, strong, stable foundation for growth? now, anybody who thinks we can move this economy forward with
3:26 pm
just a few folks at the top doing well, hoping it will trickle down, to working people who are running faster and faster just to keep up, you will never see it. if that's why you are waiting, you should stop waiting because it's never happened in our history. that is now how america was built. it wasn't built with a bunch of folks at the top doing well and everyone else scrambling. we didn't become the most prosperous country in the world by rewarding greed or by letting special interests run wild. we didn't do it just by gambling and chasing paper profits on wall street. we build this country by making things, by producing goods we could sell. we did it with sweat.
3:27 pm
and effort. and innovation. we did it on the assembly line. and at the construction site. we did it by investing in the people who built this country from the ground up, the workers, middle-class families, small business owners. we outeducated folks and outcompeted everyone else. that is how we built america. and milwaukee, that is what we will do again. that's been the heart of what we have been doing the last 20 months, building our economy on a new foundation so our middle class doesn't just survive this crisis, i want us to thrive. i want it stronger than it was before. and over the last two years that has meant taking on the powerful interests who were dominating the agenda in washington for a very long time.
3:28 pm
and they are not always happy with me. they talk about me like a dog. that's not in my prepared remarks. it's just, but it's true. that's why we passed financial reform. to provide new accountability and tough oversight of wall street. stopping credit card companies from gouging you with hidden fees and unfair rate hikes, ending taxpayer bailouts for wall street once and for all. they are not happy with it. but it was the right thing to do. that's why we eliminated tens of billions of dollars in wasteful taxpayer subsidies, handouts, to
3:29 pm
the big banks that were provided student loans. we took that money, tens of billions, and we are going to make sure that your kids and your grandchild can get student loans, and grants at a cheap rate and afford a college education. they are not happy with it. but it was the right thing to do. we are using thosization to put -- those savings to put a college station education when reach for working families and that is why we passed health insurance reform to make coverage affordable. that sends insurance companies jacking up your premiums at will and denying coverage just because you get sick, reform that gives you control. gives you the ability if your child is sick, to be able to get an affordable insurance plan.
3:30 pm
making sure they cannot drop it. that's why we make it easier for workers to save for retirement. with new ways of saving your tax refunds, a simpler system for enrolling in plans like 401(k)s and fighting to strengthen social security for the future and if everyone is still talking about privatizing social security they need to be clear: it will not happen on my watch. not when i am president of the united states of america. that's why we have given tax cuts. but we give them to folk whose need them. we have given them to small business owners. we have given them to clean energy companies.
3:31 pm
we have cut taxes for 95 percent of working americans just like i promised you during the campaign. you all got a tax cut. and instead of giving tax breaks to companies that are shipping jobs overseas, we're cutting taxes to companies that are putting our people to work right here in the united states of america. and we want to invest in growth industries like clean america and manufacturing. we have leaders here in wisconsin who have been fighting to bring those jobs to milwaukee, fighting to bring the jobs here to wisconsin. i don't want to see solar panels and wind turbines and electric cars made in china.
3:32 pm
i want them made right here in the united states of america. i don't want to buy stuff from? place else, i want to grow our exports to we're selling to someplace else, products that say "made in the usa." there are no better workers than american workers. i'll put my money on you any day of the week. and when the naysayers said, you can't save the auto industry, go lady and let hundreds of thousands of jobs vanish, we said, we're going to stand by
3:33 pm
those workers. if the management is willing to make tough choices, if everyone is willing to come together, i'm confident that the american auto industry can compete once again. and today that industry is on the way back. they said "no," and we said "yes," to the american workers. they are coming back. now, let me tell you, another thing we have done is to make long overdue investments in upgrading our outdated, our inefficient national infrastructure. we're talking roads. we're talking bridges. we're talking dams. levees. but we're also talking a smart electric grid that can bring clean energy to new areas. we're talking about broadband internet.
3:34 pm
so that everyone is plugged in. we're talking about high-speed rail lines. trying to compete in a 21st century economy. i want to get from milwaukee to chicago. quick. avoid a traffic jam. we're fog investments in tomorrow that are creating hundreds of thousands of private sector jobs right now. because of these investments, and the tens of thousands of projects they spurred all across the country, the battered construction sector actually grew last month for the first time in a very long time. but the folks here in the trades know what i'm talking about. nearly one in five construction workers are unemployed. one in five. nobody has been hit harder than
3:35 pm
construction workers. and a lot of those folks have lost their jobs in manufacturing and went into construction and now they have lost their jobs again. it doesn't do anybody any good when so many hard-working americans have been idle for months or years. at a time when there is so much of america that needs rebuilding. so that's why, milwaukee, today, i am announcing a new plan for rebuilding and modernizing america's roads, and rails, and runways, for the long-term health, i want america to have the best infrastructure in the world. we used to have the best infrastructure in the world. we can have it again. we are going to make it happen. over the next six years, over the next six years, we are going
3:36 pm
to rebuild 150,000 miles of our roads. that's enough to circle the world six times. we're going to lay and maintain 4,000 miles of our railways, enough to stretch coast to coast. we're going to restore 150 miles of runways and we're going to advance the next generation air traffic control system to reduce travel time and delays for american travelers. i think everyone can agree on that. anybody want more delays at airports? i didn't think so. that's not a republican or democratic idea. we all want to get to where we need to go. now i've got air force one now. it's nice. but i still remember what it was like. this is a plan that will fully paid for. it will not add to the budget
3:37 pm
over time. we will work with conditioning to see -- congress to see with that. we will leverage federal dollars and focus on the smartest investment. we will continue our strategy to build a national high-speed rail network that reduces congestion and travel times and reduces harmful emissions. we want to cut waste and pure bureaucracy and consolidate 100 different programs that duplicate each other. we want to change the way washington responds your tax dollars. we want to reform a patchwork way of doing business. we want to focus on less wasteful approaches than we have right now. we want competition that gives us the best bang for the buck. but the bottom line in this, this will not only create jobs, immediately, but it will also make our economy hum offer the
3:38 pm
long haul. it's a plan that history tells us can and should attract bipartisan support. it's a plan that says, even in the aftermath of the worst recession in our lifetime, america can still shape our own destiny. we can still move this country forward. we can still leave our children something better. we can still leave them something that lasts. so these are the things that we have been working for. these are some of the victories that you guys have helped us acheap. and we're not finished. we have a lot more progress to made. i'm confident we will. but there are some folks in washington who see things differently. you know what i'm talking about.
3:39 pm
when it comes to just about everyone we've done, to strengthen the middle class and rebuild the economy, almost every republican in congress says "no." even on things we usually agree on, they say "no." and if i said the sky was blue, they would say "no." if i said fish live in the sea, they would say "no." they just think it's better to score political points before an election than to solve problems. so they have said no to help for small businesses even we they said they needed it. it used to be the key constituency, and they said no. no to middle class tax cuts, and i said okay give them to the
3:40 pm
middle-class and they said "no." no to clean energy jobs. no to making college more affordable. no to reforming wall street. they are saying right now, no to cutting more taxes for small business owners and helping them get financing. i heard somebody out here yelling "yes, we can," remember that was our slogan? their slogan is "no, we can't." "no, no, no, no." all yes we can. >> yes, we can. >> yes, we can. >> yes, we can.z1kv
3:41 pm
and the republican who thinks he is going to take over as the speaker but he dismissed the jobs as government jobs that weren't worth saving. that's what he said. i'm quoting.
3:42 pm
government jobs. think about this. these are the people who teach our children. these are people who keep our streets safe. these are the people who put their lives on the line. who rush in to a burning building. government jobs? i don't know about you but i think those jobs are worth saving. i think those jobs are worth saving. by the way, this bill that we passed, to save all the jobs, we made sure that would not add to the deficit. you know how we paid for it? by closing one of the ridiculous tax loop hopes that rewarded cormgs for shipping jobs and profits overseas.
3:43 pm
this was one of the loopholes that allowed companies to write off taxes they pay to foreign governments, even though they were not paying taxes here in the united states. and the middle class families were footing tax breaks for companies trading jobs somewhere else. even a lot of america's biggest corporations agreed that this loop hope didn't make sense, agree it needed to be closed. agree that it wasn't fair. but the man who thinks he is going to be speaker, he wants to re-open this loophole. the bottom line is this: these guys do not want to give up on
3:44 pm
that economic philosophy that they have been pedalling. you know that philosophy: cut taxes for millionaires and billionaires; you cut all the rules and regulations for special interests; and you cut working folks loose. you cut them loose to fend for themselves. you remember they called it the ownership society, but, what it really boils down to if you could not find a job, you could not afford college, you were born poor, your insurance company dropped you even though your kid was sick, and you were on your own. or you know what, that philosophy did not work out so well for middle class families all across america. it didn't work out well for our country. all it did was rack up record deficits and result in the worst economic crisis since the great
3:45 pm
depression. think about it, we have tried what they are pedalling. we did it for 10 years. we ended up with the worst economy since the 1930's, and record deficits, to boot. it's not like we haven't tried what they're trying to sell us. now, i'm bringing this up not because i'm trying to relitigate the past i'm bringing it up because i don't want to relive the past. it would be one thing, milwaukee, if republicans in washington had new ideas, if they said, you know what, we crewed up. and we have learned from our mistakes. we going to do things differently. that is not what they are doing. when the leader of their campaign committee was asked on national television, what republicans were doing when they took over congress, he said we will do exactly the same thing we did the last time.
3:46 pm
that's what he said. that's on paper. so, basically, here is what this election comes down to. they are betting that between new and november you will come down with amnesia. they figure you will forget what their agenda did to this country. they think you will just believe they have changed. these are the folks' policies helped devastate our middle class. they drove our economy into a ditch. and we got in there and put on our boots and we pushed. and we shoved. and we were sweating. and these guys were standing, watching us, and sipping on a slurpy. and they were pointing at us, and saying how come you are not pushing harder and faster. and when we finally got the car
3:47 pm
out, and it has a few dings and dents and mud on it and we have to do work, and they point to everyone and said, look what they did to your car, after we got it out of the ditch and then they have the nerve to ask for the keys back. i don't want to give them the keys back. they don't know how to drive. i want everyone to think about it here. when you want to go forward and you put your car in "d." they are going to pop it in reverse. they would have the special interests riding shot gun and then they would hit the gas and we would be right back in the
3:48 pm
ditch. milwaukee, we are not going backwards. that's the choice we face this fall. do we want to go back? or do we want to go forward? i say we want to move forward. america always moves forward. we keep moving forward. every day. let me say this, milwaukee, i know these are difficult times. i know folks worried. i know there is still a lot of hurt out there. i hear it when i travel around the country. i see it in the letters i read every night from folks who are looking for a job or lost their home. it breaks my heart.
3:49 pm
those are the folks that i got into politics for. you are the reason i'm here. and when times are tough, when times are tough, i know it can be easy to give in to cynicism. i know i can be easy to give in to fear. and doubt. and you necessity, it is easy sometimes for folks to stir up stuff. and turn people on each other. and it's easy to settle for something less, to set our sights a little bit lower. but i want everyone here to remember, that's not who we are. that's not the country i know. we do not give up. we did not quit. we face down war.
3:50 pm
we face down depression. we face down great challenges and we have led the way for the rest of the world. whatever times have seemed the worst, americans have been at their best. that's when we roll up our sleeves. that's when we remember, we rise or fall, together, as one nation, and as one people. that's the spirit that started the labor movement. the idea that alone, we may be weak. divided we may fall. but we are unit united. we are strong. that is why they call them unions. that's why we call this the united states of america. i'm going to make this case across the country. between now and november. i'm asking for your help. and if you are one to join me and tom and glenn -- gwen moore and senators kohl and fine goal, we can restore the men dream and
3:51 pm
give it to our children and our grandchild. god bless you. god bless the united states of america. >> president of the united states on the labor day, like in milwaukee, in front of a predome innocently pro union rally. there was partisan political rally ripping into wall street and oil companies, the usual suspects, and employ the favorite met for that it was republicans that drove the economy into the ditch and he is the guy who will somehow get us out of a ditch and part of his map he revealed here, a $50 billion stimulus plan to rebuild infrastructure across the united states although they do not like calling it a stimulus plan, they are drawing unfavorable comparisons to the first one but
3:52 pm
i did notice the president said this will create jobs now. that is not what senior administration officials said this morning, and that was if a conference call. they said the opposite, saying the jobs will not come to 2011. we have a finance expert would has written books about such subjects. your reaction? >>guest: $50 billion would be nice but not create jobs this year, maybe some next year, but not that many, with 9.6 percent official unemployment and 18 percent if you count the discouraged workers and it would help but nothing close to solving the problem. thank you for being with us. >> >>guest: happy to be with you. a hurricane watch in effect for parts of the texas coastline, forecasters say hermine will make landfall tonight and that storm could actually gather
3:53 pm
strength and possibly reach hurricane status before then. and now, we are tracking the storm. >>reporter: we could have a storm after hermine and that would be igor. there she is, last night hermine went from a tropical depression to a strong tropical storm and possibly a hurricane. before it makes landfall. this will be a quick mover, so as it makes landfall we worried about heavy rain across portions of texas, and already seeing some squalls from houston down through corpus christi and parts of louisiana seeing the outer rain bands. future radar the next 24 hours shows the storm making landfall crass south next they, northeast mexico, and we could see 4" to 8" of heavy rain which will be the legacy of the storm, and we will see some gusts, as well, and flood advisories and flash
3:54 pm
flood warnings tomorrow and wednesday, and 4" to 8" but isolated amounts of 12" so that will be a problem for much of south central and central texas. we get a new advisory with the brand new path and we think it could make landfall close to hurricane strength, 74 miles per hour winds make it a hurricane, so a quick landfall and then moving inland so places like san antonio and austin will get heavy rain. hurricane advisories in effect, watches, of course, down through brownsville, texas, and that is into the anticipation it could become a hurricane when the next several hours and 5:00 p.m. advisory giving the latest track when it comes to us. this is what is left of gas ton, and we could see advisories for
3:55 pm
the leeward islands because it could regenerate or reenergize. we will watch this. back to you. >> reenergize and regenerate. >> this pregnant lady has no clue what she is saying. >> he suspects mill taptds -- militants after a u.s. missile strike in pakistan occurring in a tribal region, an area of border along the border with afghanistan and it is said to be packed with in suns. at the same time, a suicide car bomb attack in northwest pakistan killed 17 police officers and civilians. and the bomb going off in an alley by a police station and 40 were injured and the taliban claimed responsibility. >> fox news has learned that the
3:56 pm
pentagon plans to ask nato for additional troops to help in afghanistan. we are told nato could deploy 2,000 additional soldiers to the region. but their mission would focus not on come pat -- combat but training. the war is up popular in nato countries but teaching the afghanistan people to protect themselves is considered essential to the war effort. >> the leader of north korea preparing for a historic meeting of his communist party. what happens could decide the future of north korea and their relationship with the united states. there is speculation that kim chong-il could appointment his youngest son to a government position, a move that could lead to his son's succession as supreme leader. there is little public information about that son and the government has not release add photograph of him as an adult and state run media reports no mention of his name. during the last meeting in 1980
3:57 pm
the leaders confirmed kim chong-il as the next leader and he took over when his father died in 1994. and before we call it a day here at studio b, fireflies and scientists say they could be disappearing. the boston museum of science has an online database with 700 volunteers watch fireflies for ten minutes each week and report the must be and activity of the fireflies they see. there are reportedly more than 2,000 species. that is it for us. neil cavuto is next.
3:58 pm
every 60 seconds someone, somewhere, is making the switch to tempur-pedic. now it's your turn. call now for your free information kit including a tempur material sample, along with a dvd and catalog. traditional mattresses use metal springs that can cause pressure points causing you to toss and turn. only the tempur-pedic mattress automatically adjusts to your body while keeping your spine in perfect alignment. plus, because tempur-pedic doesn't transfer motion, you won't disturb your partner when you get out of bed or shift positions. best of all, tempur-pedic will let you sleep on one of their sleep systems for an incredible 90 nights before you make your purchase decision. if you want the ultimate in comfort - if you wish
3:59 pm
to get more sleep but can't, it's time you make the switch to tempur-pedic. call the number on your screen.

tv
Studio B With Shepard Smith
FOX News September 6, 2010 3:00pm-4:00pm EDT

News/Business. Shepard Smith. Shepard Smith reports on the days top news stories. New. (CC)

TOPIC FREQUENCY America 22, Us 14, United States 8, Wisconsin 6, Texas 4, Washington 4, Nato 3, Tempur-pedic 3, U.s. 3, Afghanistan 3, Chicago 2, Iraq 2, Pakistan 2, Kohl 2, United 2, North Korea 2, Hermine 1, Jordan Goodman 1, Acheap 1, Mike 1
Network FOX News
Duration 01:00:00
Video Codec mpeg2video
Audio Cocec mp2
Pixel width 720
Pixel height 480
Sponsor Internet Archive
Audio/Visual sound, color


disc Borrow a DVD of this show
info Stream Only
Uploaded by
TV Archive
on 6/20/2012
Views
123